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Healtheon/WebMD agrees to buy Envoy

Published on January 25, 2000.

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Atlanta--In a move intended to strengthen its business-to-business services, Healtheon/WebMD announced Monday an agreement to acquire Research Triangle Park, N.C.-based Quintiles Transnational Corp.'s electronic data interchange unit, Envoy Corp. The deal is valued at $2.5 billion, with $2.1 billion in stock and $400 million in cash. With the acquisition, Healtheon/WebMD anticipates it will process nearly 2 billion transactions annually for pharmacies, doctors, dentists, hospitals and insurance providers. Additionally, Quintiles and Healtheon/WebMD announced an alliance to develop a Web-based suite of products and services for the pharmaceutical industry, designed to improve drug development and delivery of health care information.